South Bank BID secures another five years
Businesses in the dynamic South Bank area have demonstrated resounding approval for the extension of the South Bank Business Improvement District (BID), committing to an additional five years of collaborative efforts to foster sustained growth and development within the local business community. This overwhelming support underscores their dedication to ensuring the South Bank remains a thriving hub for commerce and innovation.
The recent ballot results, announced on February 23, provide a new mandate for the continuity of services, projects, and support provided by South Bank BID. The approval rate from businesses stands at an impressive 99.34%, showcasing the strong commitment of the local business community to the BID’s mission.
Key Figures from the Ballot:
Total number of eligible businesses in the BID area: 305
Total returned ballot papers: 154
Turnout: 50.49%
Total valid votes received: 151
Total rejected: 3
Total rateable value of valid votes cast: £98,994,500
Total number of valid votes in favour of the BID: 150
Total rateable value of votes cast in favour of the BID: £98,547,000
Percentage of votes cast in favour of the BID: 99.34%
Percentage of the total rateable value of votes cast in favour of the BID: 99.55%
As reflected in the ballot results, the substantial support for the South Bank Business Improvement District (BID) emphasizes the economic significance and commitment of businesses in the South Bank area. 50.49% of eligible businesses participated in the vote, reinforcing the BID’s pivotal role in advancing the South Bank business community over the next five years. This resounding mandate underscores businesses’ dedication to the BID’s mission and the continued enhancement of the local area.
Govert, the South Bank BID chair, said: Following a then UK record renewal ballot result in 2019, we’re delighted that once again we’ve seen businesses show exceptional support for the BID and a commitment to take forward an ambitious programme of activity. We will continue to build on the work we’ve delivered in South Bank over the past ten years, with our focus on core areas such as safety and security, and area promotion that highlights this world-class neighbourhood. Alongside this, we will also expand the BID’s delivery further into new and exciting areas that reflect the interests and concerns of our businesses, such as achieving our shared Net Zero ambitions.
Many thanks to all those who voted on the ballot. The Board and the BID team look forward to continuing to work with the business community and other key partners over the next five years to ensure a safe, resilient, vibrant, and sustainable South Bank.”
- Councillor Irfan Mohamed, Deputy Cabinet Member for Business, said: Congratulations to South Bank BID. This fantastic result represents a lot of hard work and I would like to thank them on behalf of businesses in the area for their efforts. As a council, we look forward to continuing to work with South Bank BID over the next five years to help deliver their vision of a world-class South Bank for everyone.
Chris John, Deputy Returning Officer for the London Borough of Lambeth, officially declared the approval for the South Bank BID’s continuation. This impressive success affirms the effective collaboration between the BID and local businesses, setting the stage for continued growth and prosperity in the area.
For more information, visit: South Bank BID